Traffic growth (+3.6%) not translated into revenue (-2.4% to €637 million) due to decrease in de-icing fees and scope effect (mothballing of cogeneration plant):
- Continued good dynamics in traffic (+3.6%) since Q4 2013
- Aviation: sustained growth of airport fees (+5.8%, to €206 million) driven by traffic and tariffs increase, totally offset by the decrease in ancillary fees (-19.4% to €45 million) linked to low de-icing activity following an exceptionally mild winter
- Retail and services: growth of retail activities (+1.4%, to €85 million) more than offset by the strong decrease in industrial services (-53.7%, to €13 million) due to the mothballing in April 2013 of the cogeneration plant resulting in a decrease in electricity sales (-74.0%, to €4 million)
- Real estate: impact of the indexation of rents on CCI down by 1.74% as of 1 January 2014
- Continued control over operating costs strengthened by a positive effect on margins of no snowfall
Group revenue by segment:
| In million of euros (unless stated otherwise) | Q1 2014 | Q1 2013 Pro forma | 2014 / 2013 |
| Aviation | 376 | 375 | +0.5% |
| Retail and services | 224 | 234 | -4.4% |
| Real estate | 65 | 66 | -1.6% |
| International and airport developments | 16 | 22 | -26.9% |
| Other activities | 47 | 47 | -1.0% |
| Intersegment eliminations | (91) | (91) | -0.1% |
| Consolidated revenue | 637 | 653 | -2.4% |
| Group traffic (in millions of passengers) | 29 | 27 | +7.1% |
| Paris Airports (CDG+ORY) | 20 | 19 | +3.6% |
| TAV Airports @ 38% | 8 | 7 | +15.6% |
| Sales/PAX (€) | 18.0 | 17.8 | +1.1% |
Augustin de Romanet, Chairman and Chief Executive Officer of Aéroports de Paris, said:
"The upturn in traffic observed since the beginning of the fourth quarter of 2013 continued over the first quarter of 2014, with a 3.6% growth in passenger traffic at Paris airports. This growth did not translate into an increase in consolidated revenue mainly because of an external effect (decrease in revenue linked to de-icing activities, as a consequence of an exceptionally mild winter) and a scope effect (mothballing of cogeneration plant). Beyond revenue, our continued efforts on control over operating costs and no snowfall had a positive impact on our margins."
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